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Forex News: Indian Rupee Recovers From Record Low Against U.S.

Indian Rupee Recovers From Record Low Against U.S. Dollar

03/19/2020 - 08:38:00 (RTTNews)

(RTTNews) - The Indian rupee rebounded from its record low against the U.S. dollar in evening deals on Thursday following intervention by the Reserve Bank of India.

The Indian rupee rose to 74.86 against the greenback, from a record low of 77.42 hit in the morning session.

The decline in the rupee was due to a stronger dollar, as emergency stimulus measures launched by governments and central banks around the world failed to ease investor fears that the world economy is heading toward a recession.

Media reports said that the RBI had intervened when the rupee reached the 75 mark to stem its decline.

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